Dang, it sucks they are backed into such a tight spot because Tritium seems like a really promising DCFC equipment company. I feel like I'm too often saying this lately about all these companies but I'm gonna say it yet again for Tritium: I really hope they make it! Thanks for another informative drop SP!
I hope they make it as well. I hope they can make it through, or in the event they can't, hope an acquirer sees value in Tritium despite negative book value. Glad you enjoyed the video!
@nishiki393 I wouldnt do it they were also trying to hire people when it was dead i know because i worked there and now their bad choices has led them to the brink of bankruptcy.
Tritium manufacture for ChargePoint… you do know that right? They also manufacture for Shell / BP / Siemens Energy / Enel X / Evie and many more Tritiums closest competitor is Kempowr or Tesla, definitely not ChargePoint…
What does Tritium manufacture for ChargePoint? I know Tritium was supplying a portion of ChargePoint's DC fast chargers a couple years ago but isn't that over?
Yeah, gross margins were still negative for their FY'23, so gross profit wasn't supporting the operating expenses. Hopefully that'll be a different story now that gross margins are positive & continuing to increase. But those operating expenses are certainly high & seems like it'll take a while to get gross profit above them.
@@stockprobe From Call: Jane Hunter The other thing, though, Christopher, to consider, is that the gross margin would have been slightly suppressed and skewed by the very large order of nearly 1,000 RTM 50s by bp, which we’ve been building right up until very recently. That’s our very inexpensive and lowest priced product and it has a lower gross margin. So you would expect that to sort of suppress gross margin until we complete building that deal.
@@stockprobeI can't remember where I read it. The bottom line is tritium needs to have a very different 2024 to 2023 or they will be bankrupt, they can't afford to to have a net loss of $121M next year.
I'm not that familiar with how these operate, but this seems to explain it pretty well: reddit.com/r/SPACs/s/FgrHfI3kSc Sounds like it could be pretty bad for ordinary shareholders.
True, but I'm under the impression their operating expenses will stay around the level they're at now, if not a bit higher. The good part is that revenue continues to grow strong & gross margins are improving. If they can grow gross profit faster than OpEx, they'll eventually get to operating profitability. Then there's interest expenses.
@@stockprobeAbout operational expenses staying the same (I think production expenses are going south): From Call: Jane Hunter In terms of the factory ramp-up, we have already sunk the cost of the most expensive item, which is the end-of-line test equipment. So we’ve gone out on board all of the end-of-line test equipment we need to ramp to 2024. So that’s already been spent within that $7.95 million. So in the case of Tennessee, we’ve built out the facility, it’s lightweight investment in the tooling and equipment, always our most expensive equipment is that end-of-line test equipment. And the majority of that cost is already some consent-ready to go. So I think we’ll find a modest CapEx expense for next year.
I think you missed part in Q&A explained that there was 2 full weeks (I think in august?) that Brisbane was stopped for equipment change. Maybe of that they plan lower income in second 23 year part?
Yes, forgot to mention that! Pretty sure that was one factor they mentioned explaining the flat revenues. I wonder what the exact impact to revenues that caused. I know they also mentioned a larger amount of backlog converting to sales in the first half than expected (they expected more to fall in the second half of '23).
They also mentioned one large low margin (bp?) order. Makes lot of revenue, but low margin. Now they are completely on PKM & RTM. Its kind of interesting, if you look in they homepage, there is still 6 models mentioned below “Products”. 🤔
@@priusyt I'm guessing they haven't updated their website to reflect their current product offerings. Do they have any non-PKM/RTM hardware in their backlog still? Maybe waiting for those to be delivered before removing them from the product tab. I'm not sure.
Annual report available on Tritium's IR page if you'd like to look through it fully:
investors.tritiumcharging.com/financials/sec-filings
It's going to recover very well. you watch.
all r good but still 2-3daysy withdraw is not success pl help me any updated give?
Dang, it sucks they are backed into such a tight spot because Tritium seems like a really promising DCFC equipment company.
I feel like I'm too often saying this lately about all these companies but I'm gonna say it yet again for Tritium: I really hope they make it!
Thanks for another informative drop SP!
I hope they make it as well. I hope they can make it through, or in the event they can't, hope an acquirer sees value in Tritium despite negative book value. Glad you enjoyed the video!
@nishiki393 I wouldnt do it they were also trying to hire people when it was dead i know because i worked there and now their bad choices has led them to the brink of bankruptcy.
@@romansotelo7240 Thanks for the advisory. I didn't invest in them, but of course still hope they make it.
Tritium manufacture for ChargePoint… you do know that right? They also manufacture for Shell / BP / Siemens Energy / Enel X / Evie and many more
Tritiums closest competitor is Kempowr or Tesla, definitely not ChargePoint…
What does Tritium manufacture for ChargePoint? I know Tritium was supplying a portion of ChargePoint's DC fast chargers a couple years ago but isn't that over?
I was surprised that they grew revenue so much but still had such large operating loss.
Yeah, gross margins were still negative for their FY'23, so gross profit wasn't supporting the operating expenses. Hopefully that'll be a different story now that gross margins are positive & continuing to increase. But those operating expenses are certainly high & seems like it'll take a while to get gross profit above them.
@@stockprobe it seems like the big BP customer was for no profit just turn over.
@@outofthebots3122 what makes you think so? Sounds interesting.
@@stockprobe From Call: Jane Hunter
The other thing, though, Christopher, to consider, is that the gross margin would have been slightly suppressed and skewed by the very large order of nearly 1,000 RTM 50s by bp, which we’ve been building right up until very recently. That’s our very inexpensive and lowest priced product and it has a lower gross margin. So you would expect that to sort of suppress gross margin until we complete building that deal.
@@stockprobeI can't remember where I read it. The bottom line is tritium needs to have a very different 2024 to 2023 or they will be bankrupt, they can't afford to to have a net loss of $121M next year.
EVGO is the best buy at this point. They make money and are at a much much better price!!
May i know your views on the Preference Share Deal? Is it really bad for the share holders?
I'm not that familiar with how these operate, but this seems to explain it pretty well:
reddit.com/r/SPACs/s/FgrHfI3kSc
Sounds like it could be pretty bad for ordinary shareholders.
They used a lot of their cash ramping up their tenessee factory..that’s paid off now.
True, but I'm under the impression their operating expenses will stay around the level they're at now, if not a bit higher. The good part is that revenue continues to grow strong & gross margins are improving. If they can grow gross profit faster than OpEx, they'll eventually get to operating profitability. Then there's interest expenses.
@@stockprobeAbout operational expenses staying the same (I think production expenses are going south):
From Call: Jane Hunter
In terms of the factory ramp-up, we have already sunk the cost of the most expensive item, which is the end-of-line test equipment. So we’ve gone out on board all of the end-of-line test equipment we need to ramp to 2024. So that’s already been spent within that $7.95 million.
So in the case of Tennessee, we’ve built out the facility, it’s lightweight investment in the tooling and equipment, always our most expensive equipment is that end-of-line test equipment. And the majority of that cost is already some consent-ready to go. So I think we’ll find a modest CapEx expense for next year.
I think you missed part in Q&A explained that there was 2 full weeks (I think in august?) that Brisbane was stopped for equipment change. Maybe of that they plan lower income in second 23 year part?
Yes, forgot to mention that! Pretty sure that was one factor they mentioned explaining the flat revenues. I wonder what the exact impact to revenues that caused. I know they also mentioned a larger amount of backlog converting to sales in the first half than expected (they expected more to fall in the second half of '23).
They also mentioned one large low margin (bp?) order. Makes lot of revenue, but low margin. Now they are completely on PKM & RTM.
Its kind of interesting, if you look in they homepage, there is still 6 models mentioned below “Products”. 🤔
H1: high revenu with low margin
H2: low revenue with high margin (because of retooling assembly lines for mass production looking forward?)
@@priusyt I'm guessing they haven't updated their website to reflect their current product offerings. Do they have any non-PKM/RTM hardware in their backlog still? Maybe waiting for those to be delivered before removing them from the product tab. I'm not sure.
@@priusyt did they say that on the earnings call? Must've missed it. Were there any other shutdowns mentioned for H2 aside from Brisbane in August?
delete ur channel buddy ~ my online friend said to type this comment and the other one too lol